According to CryptoQuant’s Ki Young Ju, government entities like the Department of Justice and the IRS have not sold any Bitcoin since July 2023, resulting in a 2.4-fold increase in unrealized profits.

Contrary to this, Arkham platform analysts claim the government’s address holds 215,245 BTC worth approximately $14.8 billion, along with 50,147 Ethereum, 10.14 million USD Coin, 5.36 million Dai, and 2.27 million Tether.

Public scrutiny focuses on government wallets due to concerns about the potential negative impact of a large-scale coin sale on the $2.5 trillion global crypto market.

Recent government actions include transferring BTC from the Silk Road hacker to Coinbase in March 2023, selling 9,861 BTC in April, and announcing plans to sell 2,934 BTC linked to the Silk Road case in January. Additionally, 15,085 BTC seized from the Bitfinex exchange hacker were transferred in February.

These developments underscore the U.S. government’s significant presence in the cryptocurrency space and its strategic handling of digital assets.

Also Read: Bitcoin’s Resilience: A Path to $45K Amid Market Fluctuations